Cioffi, Tannin Settlement With SEC Approved by U.S. Judge
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A $1.05 million settlement between former Bear Stearns Cos. hedge-fund managers Ralph Cioffi and Matthew Tannin and the U.S. Securities and Exchange Commission was approved by a U.S. judge in Brooklyn, New York.
Cioffi agreed to pay $800,000 to settle the suit and Tannin agreed to pay $250,000. U.S. District Judge Frederic Block initially had described the accord as “chump change.”